Energy

Vice President Yemi Osinbajo, has said the newly constituted board of the Nigeria Electricity Liability Management Company would enhance ongoing efforts to resolve the liabilities relating to tariff shortfalls for power distribution companies nationwide. According to a statement signed by his Senior Special Assistant on Media and Publicity, Laolu Akande, …

The Bureau of Public Enterprises, on Friday, said it would collaborate with Jindal Steel & Power Group, a global player in steel, mines and infrastructure, in the firm’s areas of interest for investments in Nigeria. Officials of BPE received senior management representatives of the firm in Abuja, where the bureau …

The Ikeja Electricity Distribution Company has announced a shutdown of operations following the issues between the National Union of Electricity Employees and the Transmission Company of Nigeria. In a statement on Wednesday via its verified Twitter handle, @IkejaElectric, the Disco announced the shutdown of operations. The statement read partly, “Due …

There are indications that the nation’s electricity supply crisis might worsen from Wednesday, as Organized Labour has directed workers in the power sector to down tools. They are to commence an indefinite strike over pending Labour issues with the Transmission Company of Nigeria (TCN). Under the aegis of the National …

The President and Minister of Petroleum Resources, Mohammadu Buhari, on Monday consented to the sale of the Exxon Mobil shares in the United States of America to Seplat Energy Offshore Limited. The reason given for the sale was that it was done in line with the country’s drive for Foreign …

Nigeria’s crude oil production decreased in July to an average of 1.08 million barrels per day (bpd) from 1.16 million the previous month. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said this in its latest crude oil and condensate production data for July 2022. The report shows a 6.42 percent decrease …

Nigeria has secured a $1.5 bn loan facility from the US-EXIM Bank to deliver solar power infrastructure in 10 different locations nationwide. Chief Executive Officer, SUN Africa LLC, USA, Adam Cortese, disclosed this to State House correspondents after a meeting of a delegation of the company with the President. Cortese …

The Organisation of Petroleum Exporting Countries has raised Nigeria’s crude oil production quota for September 2022 to 1.83 million barrels per day, as Brent, the global benchmark for crude, dropped in price the same day. Data obtained from OPEC showed that the 13-member organisation increased Nigeria’s oil production quota marginally …

The federal government has been accused of failing to provide the N100bn subsidy on electricity since the privatisation of the sector in 2013. The accusation is coming from the 11 Electricity Distribution Companies at a time when the federal government had officially taken over five Discos by the Federal Government …

The Labour Party presidential candidate, Peter Obi, on Thursday, urged Nigerians to rise up for “effective change” in the country. While lamenting the country’s epileptic power supply, the presidential candidate said it was time for Nigerians to demand what was right from the country’s leaders. In a series of tweets …